Key quote for me: > The trap, then, is that creators can get hooked on creating these. Buyers with a sunk cost get hooked on making the prices go up, unable to

Key quote for me: > The trap, then, is that creators can get hooked on creating these. Buyers with a sunk cost get hooked on making the prices go up, unable to walk away. And so creators and buyers are then hooked in a cycle, with all of us up paying the lifetime of costs associated with an unregulated system that consumes vast amounts of precious energy for no other purpose than to create some scarce digital tokens. Tangentially, this resembled me of troubled financial markets (minus energy expenditure). Companies are hooked on making their stock go up, even if it requires distorting reality to hide fundamental problems. Like creators who become more about NFTs and their value than art, companies become more concerned with inflating valuations than actual business. Stock buyers are hooked on making stocks go up, not selling even if fundamental indicators are suffering to the point where viability of the business should be in question. Banks are hooked on making stocks go up… A vicious circle all around.